The era of cheap oil is history, geologist warns
Kenneth S. Deffeyes, a Princeton University geologist, has a suggestion for Thanksgiving 2005: “Give thanks for a century of cheap and plentiful oil.”
Harold Brubaker
An answer in Somerset: The Age of Entropy is here. We should all now be learning how to live without oil
‘Never again,” the Texas oil baron and corporate raider T Boone Pickens announced this month, “will we pump more than 82m barrels.” As we are pumping 82m barrels of oil a day at the moment, what Pickens is saying is that global production has peaked. If he is right, then the oil geologist Kenneth Deffeyes, who announced to general ridicule last year that he was “99% confident” it would happen in 2004, has been vindicated. Rather more importantly, industrial civilisation is over.
Over a million barrels of oil a day lost to depletion
The world is now losing more than a million barrels of oil a day to depletion – twice the rate of two years ago – according to a new analysis published this month in Petroleum Review.
Tallying oil reserves: inexact science
Estimating how much oil a company owns thousands of feet underground is, at best, a slippery business.
Oil Prices Fall to $45 as Iraq Oil Flows
Oil prices fell nearly a dollar to end just above $45 on Tuesday, in a third day of losses as a more optimistic Iraq export picture helped unwind some of the supply worries.
Stocks set for crash like 1987, Roach says
Global stock markets may have something far more ominous to worry about than the recent spike in oil prices, with one economist seeing a ‘Black Monday’ scenario in the making.
Banks Raise Profile on Energy Markets
Several European and U.S. banks have recently moved into the increasingly lucrative energy trading business or have taken steps to expand their involvement in oil, gas and power derivatives.
Oil’s slippery slope
s the neo-conservative dream of a “liberated” Iraq came true in April 2003, who would have predicted that 16 months later oil would become the ultimate time bomb for the Bush administration?
Why we (still) need 60 dollars per barrel
Oil is no longer a free good made available to the aging consumer heartlands, but a vital and hard-to-substitute commodity that is entirely nonrenewable at human timescales, and whose ultimate peak of production is looming ever closer.
China’s oil appetite could undermine U.S. energy plans
China’s dramatic increase in energy consumption – coupled with political problems in the oil-producing countries of Iraq, Russia and Venezuela – could have dramatic negative effects on the U.S. and world economies.
India: Energy security — Devise alternative strategies on war footing
The Association for the Study of Peak Oil feels that the current increase in crude oil prices is only a foretaste of worse to come.
Oil Haves and Have-Nots (exerpt)
To some geologists, the world is heading toward an oil crisis of historic proportions. The crisis will come, they say, not when the wells go dry, but when world oil production reaches a peak and begins to decline.
